Grindstone

Grindstone Project

The Grindstone Project is a discovery-stage Nickel-Copper-Cobalt-PGM target, located in an underexplored region of northwestern New Brunswick.

Grindstone Project

Location & Infrastructure

The Grindstone Project is located in the northwestern part of New Brunswick, in NTS mapsheet 21O/05. The Project is located 20 km south-southwest from the town of St-Quentin, and 35 km northeast of the town of St-Leonard.

Highway 17 passes within 0.5 km of the edge of the property. Direct access to the property is possible through a gate bordering highway 17, which lets on to numerous logging roads with are maintained by Irving Pulp & Paper Ltd., who own the surface rights to the area.

Project Geology

The Grindstone Project lies within a stratigraphic domain of the northern Appalachian Geological Province or Orogen described by provincial government geologists as the Aroostook-Percé Anticlinorium. This domain is composed of the Middle Paleozoic Matapedia Cover Sequence which regroups sedimentary units originally deposited in a sedimentary basin known as the Matapedia Forearc Basin. In Northern New Brunswick, these sedimentary units are now assigned to both the Grog Brook and the overlying Matapedia Groups.

The Property is underlain by the Grog Brook Group, which is subdivided into two formations. At the base, there is the Boland Formation, composed of slate, argillite, and siltstone, and at the top is the Whites Brook Formation composed of greywacke and conglomerate. The argillite, which is the main lithology that outcrops on the property, has been described as light to dark grey to moderately rusty on weathered surfaces due to the contents of disseminated sulphides, i.e. pyrite and pyrrhotite. The outcrops show bedding that dips moderately with a well-developed sub-vertical cleavage.

In 2007-08, Golden Bay Resources Ltd. staked a total of 39 claims in the southern part of the original Noranda claim block and commissioned Vickers Geophysics Inc. from Bathurst, NB to reprocess and interpret the historical Sanders Geophysics aeromag, ground mag, and VLF data. No field work was completed on the property during this period.

Current Work

In 2018, Expert Geophysics Ltd. was contracted to carry out an airborne Mobile Magnetotelluric (“MMT”) and magnetometer survey over the Grindstone Project. The final data acquired comprised 4,141 line kilometres covering an area of approximately 7,392 hectares.

The apparent conductivity and the magnetic intensity mag confirm a strong linear, somewhat arcuate feature extending through the survey block from NE to SW; the apparent conductivity and susceptibility are generally coincident. This main feature, moderately conductive and magnetically susceptible, while more or less pervasive through the survey block, does reflect minor cross-trends or structural breaks along its lengths.

Future Plans

The Company will be drilling the project in the first half of 2019. Drilling permit applications have been submitted to the Government of New Brunswick, and are expected to be approved shortly. Geological and drilling contractors have been retained, and the Phase 1 program is fully funded.